“It is a miracle that Greeks remain the global leaders in shipping, especially when competing with China. China has everything.” These were the words of Greek shipowner George Prokopiou at the “5th Athens Triennial Meeting.”

His remark highlights the fact that China possesses shipyards, ports, a steadily growing fleet, goods, and crews. “It’s a miracle that Greeks stay on top of the shipping industry.”

He also expressed concern about Western efforts to limit China’s growth through trade wars and the imposition of tariffs.

Speaking on energy transition, Prokopiou reiterated his firm stance that “the gradual shift from oil and natural gas to alternative energy sources may take more than 50 years.”

He pointed out that adopting hydrogen as an alternative fuel in global industries aimed at decarbonization requires investments in the trillions, which would create significant inflationary pressures.

Regarding current advancements, he mentioned that new engines consume about 35% less fuel, and combined with reducing ship cruising speed by two knots, a vessel can achieve energy efficiency exceeding 50%.